India, May 8 -- BluSmart's existing investors, including BP Ventures and ResponsAbility Investments, are reportedly planning to invest $30 Mn (INR 253.64 Cr) in an effort to revive the electric cab-haling startup.

The funding will be in the form of unsecured debt and would help the company to patch its operational liabilities, including pending dues and employee salaries, TechCrunch reported, citing sources familiar with the matter.

However, the investment proposal relies on cofounder Anmol Singh Jaggi's resignation, the report confirmed.

Inc42 has reached out to BluSmart, ResponsAbility and BP Ventures for comments on the development. The story will be updated based on their responses.

The report further said that the startup's inves...